DROID Affects the Stock Market

[Robfactory]

According to an article today in the Wall Street Journal's business section GPS manufactures (Garmin Ltd. and TomTom N.V.) stocks went down as soon as the announcement release for Android 2.0 was made public.
With Google's implementation of a turn by turn GPS in Android 2.0 it seems the GPS manufacturers and Garmin in particular will take a BIG hit. Garmin and AT&T have been marketing the Garmin GPS Phone for a month of two.
At least AT&T can still count on the iPhone to bring in customers, but Garmin is going to be out of luck.
Garmin Ltd. (GRMN) 31.43 -6.35‎ (-16.81%&#8206
TomTom Nav. (TOM2) 8.11 -2.13 (-20.84%)

 

[AndroidFan]

Yea...I think it will only get worse for those GPS companies. Garmin is dipping into the cellphone business. Probably won't last long. That is funny though. B)

 

[Robfactory]

The thing is that they don't own the maps...they only make the electronics. So it will be interesting to see how Android 2.0 picks up in relation to the GPS market. A lot of people like their phones separate from other devices.
Less wear and tear.
Still the GPS industry is in for a rude awakening.

 

[Carl C]

I was just about to post that RobFactory!

Check this chart ..... Garmin in Blue and Tom-Tom in red and they both Plummet , Google has really shaken up the market.......these companies seem like they've just been slapped in the face by Internet God Google!

But hey ....... This can be quite news for the consumer considering this can be good competition and maybe make these companies step up a notch with new innovative technology and techniques!